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Fannie Mae Pays $170M To Clear Investors' Subprime Suit

Fannie Mae has agreed to pay $170 million to shareholders to settle a consolidated class action alleging the federal mortgage giant misrepresented its exposure to subprime loans in the runup to the 2008 mortgage crisis, according to documents filed in New York federal court Friday.

  • FCC Wades Into Data Security With $10M Privacy Breach Fine

    The Federal Communications Commission jumped into the field of data security regulation for the first time Friday, hitting a pair of telecommunications companies with a $10 million fine for allegedly failing to adequately safeguard customers' sensitive personal information. 

  • Shire Looks To Sink $1.5B AbbVie Termination Fee Into M&A

    London-based Shire PLC's CEO said in a Friday conference call that the pharmaceutical giant has "significant firepower" and will look to boost its acquisitions, as it rides the windfall of a $1.6 billion termination fee from its canceled $52 billion merger with AbbVie, along with solid quarterly profits. 

  • Jury Awards Costco $37M In LCD Price-Fixing Trial

    A Washington federal jury on Thursday awarded Costco Wholesale Corp. about $37 million after finding that AU Optronics Corp. and dozens of other electronics companies fixed the price of liquid crystal display panels, tasking just six LCD makers with footing the damages bill.

  • P&G Joins Spinoff Frenzy With Plans To Split From Duracell

    The Procter & Gamble Co. on Friday became the latest household-name company to split from a big-ticket asset when it outlined plans to exit its Duracell battery business, potentially through a spinoff that would create a new publicly traded company.

  • Chiquita Investors Vote Down Fyffes Inversion

    Shareholders in Chiquita Brands International Inc. on Friday voted down the banana giant's plans for a $500 million-plus merger with Ireland's Fyffes PLC, dealing a death blow to the ballyhooed tax inversion one day after a pair of Brazilian bidders surfaced with a heftier offer.